Plan Snapshot
- Plan Sponsor: New England Electrical Workers Benefits Fund
- Sponsor EIN: 060860627
- Sponsor Address: 321 RESEARCH PKWY, MERIDEN, CT, 06450
- Plan Type: 401(k)
- Plan Number: 501
- Total Participants: 4,070
- Total Assets: $139.9M
Key Plan Design Features
- Auto-Enrollment: No
- Auto-Escalation: No
- Allows Roth Contributions: No
- Participant Loans: No
- Participant-Directed Investments: No
- ERISA Section 404(c) Fiduciary Safe Harbor: No
Plan Financials by Year
| Year | Participants | Total Assets | Employer Contrib. | Employee Contrib. |
|---|---|---|---|---|
| 2024 | 4,070 | $139.9M | $93.1M | $10.0M |
| 2023 | 3,812 | $119.0M | $91.7M | $7.5M |
| 2022 | 3,589 | $93.6M | $82.3M | $6.7M |
Service Providers (Schedule C)
Vendors paid $5,000 or more for services to the plan, ranked by total compensation (direct + indirect fees).
| Provider Name | Role | Direct Compensation | Indirect Compensation | Total Fees |
|---|---|---|---|---|
| ANTHEM HEALTH PLANS, INC | Other Service Provider | $1,726,129 | $58,596 | $1,784,725 |
| ZENITH AMERICAN SOLUTIONS | Other Service Provider | $1,312,427 | — | $1,312,427 |
| SOLXSYS ADMINISTRATIVE SOLUTIONS | Other Service Provider | $746,400 | — | $746,400 |
| ZELIS | Other Service Provider | $362,161 | — | $362,161 |
| LABOR FIRST LLC | Other Service Provider | $315,724 | — | $315,724 |
| PRIME PAY | Other Service Provider | $172,370 | — | $172,370 |
| LOWER HUDSON VALLEY E.A.P. | Other Service Provider | $162,942 | — | $162,942 |
| ROBERT M. CHEVERIE & ASSOC., P.C. | Other Service Provider | $144,000 | — | $144,000 |
| GRAYSTONE CONSULTING LLC | Other Service Provider | $125,328 | — | $125,328 |
| NOVAK FRANCELLA LLC | Auditor | $85,613 | — | $85,613 |
| HINGE HEALTH, INC. | Other Service Provider | $81,771 | — | $81,771 |
| THE SEGAL GROUP, INC. | Other Service Provider | $68,872 | — | $68,872 |
| EATON VANCE MANAGEMENT | Other Service Provider | $53,199 | — | $53,199 |
| SAV-RX PRESCRIPTION SERVICES | Other Service Provider | $48,536 | — | $48,536 |
| MODERN ASSISTANCE PROGRAMS, INC. | Other Service Provider | $45,739 | — | $45,739 |
| SUN LIFE CAPITAL MANAGEMENT LLC | Other Service Provider | $30,401 | — | $30,401 |
| CBIZ-SAVITZ,INC | Other Service Provider | $21,450 | — | $21,450 |
| SANTANDER BANK | Other Service Provider | $20,198 | — | $20,198 |
| LAPIER, DILLON & ASSOCIATES PC | Auditor | $10,883 | — | $10,883 |
| ALLEGRA PRINT & IMAGING | Other Service Provider | $8,412 | — | $8,412 |
| WEX, INC. | Other Service Provider | $7,588 | — | $7,588 |
Verified Provider Profiles
Direct links to verified profiles of matched retirement plan providers on PlanProvider.Pro:
- NOVAK FRANCELLA LLC — Auditor
- LAPIER, DILLON & ASSOCIATES PC — Auditor
Plan Fees & Expenses
Annual service provider fees and administrative expenses sourced from DOL Form 5500 filings.
- Total Service Provider Fees: $5,608,739
- Estimated Expense Ratio: 4.010% of plan assets
Historical Administrative Expenses
Breakdown of administrative expense categories reported on Form 5500 filings.
| Year | Total Admin Expenses | Investment Mgmt Fees | Contract Admin Fees | IQPA Audit Fees | Professional Fees |
|---|---|---|---|---|---|
| 2024 | $5,194,715 | $30,401 | $2,428,575 | $60,780 | — |
| 2023 | $4,859,495 | $146,083 | $2,245,367 | $59,470 | — |
| 2022 | $4,528,793 | $102,220 | $2,167,512 | — | $298,869 |